Popular memecoin Shiba InThere was once again a remarkable increase in coin burning operations in the U (SHIB) ecosystem. As of April 9, approximately 34 million Shib Coin was burned and removed from the circulation. With the narrowing of the supply, this development has brought up the expectations that it may have a positive impact on the price. However, market reactions are still uncertain and investors are cautious.
As the coin burning rate explodes, the supply gradually shrinks
For Shiba Inu coin burning According to Shibburn data, which follows the processes, 34.21 million Shib Coin was burned and removed from the circulation in the last 24 hours. With this move, Altcoin’s coin burning rate increased by 538 percent on an hourly basis. Especially in recent days, the increasing coin burning volume is carefully monitored among investors with its impact on the supply-demand balance. Experts say that this kind of coin burning moves can create upward pressure on the price of Altcoin in the long term.
AltcoinThe total supply of 999 trillion units, while 410.73 trillion pieces have been burned to date. There are currently 584.36 trillion coins in circulation. In the last coin burning operations, the “0x541f60E5576” wallet address drew attention. The wallet address in question only contributed directly to the process by burning 17.13 million Shib Coin.
Expectations rise while the price falls
Coin Despite the increase in the burning rate, there was a noticeable decline in Shiba Inu’s price. Altcoin has lost more than 50 percent of its value since the beginning of the year, while the price fell from 0.00002 to $ 0.00001. Currently, SHIB is traded with a decrease of 5 percent on a daily basis, 10 percent on a weekly basis and 12 percent on a monthly basis. Although the price is downward, some market analysts believe that this may be temporary.
Crypto currency analyst Javon MarxShıb price of up to 550 percent in the long term, stating that the target level announced as $ 0.000081. This prediction of Marx was considered as a light of hope for investors in an environment where the supply is constantly shrinking. However, the external factors that will affect the process as well as the price target are of great importance.
Cautious optimism in the midst of uncertainties
Macroeconomic uncertainties, international trade tensions and fragility in the global financial system raise the perception of risk throughout the crypto currency market. For this reason, although the supply limiting developments such as coin burning operations in Shiba Inu are met positively, it does not provide sufficient confidence in terms of price movements. Shib Most of the investors have a cautious optimism regarding the potential rise of the price.
Although analysts are united in the view that Coin’s stable decrease in circulating supply can create upward acceleration in the medium and long term, short -term price fluctuations and investor behaviors have the potential to directly influence the speed and effect of this process. For this reason, experts emphasize that investors should follow both technical data and global developments simultaneously.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
